Facebook Fails To Purchase Twitter

Posted: Nov 26 2008, 8:00am CST | by , Updated: Aug 11 2010, 11:55am CDT, in News | Other Stuff

 

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Apparently Facebook tried to buy the microblogging company called Twitter this week. Facebook made an offer amounting to $500 million in Facebook stock. Part of the reason that the purchase offer was turned down is that Twitter questioned the valuation of Facebook.

Facebook's valuation is based on the $240 million that Microsoft dropped for a mere 1.6% share in 2007. Twitter founders also felt that the site had yet to hit its high point with profitability according to Telegraph.

Whether or not this was a good decision for Twitter in the face of a rapidly worsening economy remains to be seen. The tech world is riddled with withering firms that hit very hard times after turning down nice purchase offers.

Via Telegraph

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The Author

<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Tech and Car expert Shane McGlaun (Google) reports about what's new in these two sectors. His extensive experience in testing cars, computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
Shane can be contacted directly at shane@i4u.com.

 

 

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